Cyprus urged to back bailout deal

Cyprus’ finance minister urged politicians to approve a first batch of spending cuts and tax hikes agreed with international creditors by December 13, when the other 16 EU countries that use the euro are expected to discuss a bailout deal.

Vassos Shiarly said the only element left to determine in the bailout accord with the troika of the European Commission, the European Central Bank and the International Monetary Fund is how much cash troubled Cypriot banks need.